I agree the 707 is a bit slick compared to the 727. I think the 727 is a bit too draggy so somewhere in the middle would be more realistic. We resisted using speed brakes in the 707 because it shook the plane too much. Sometimes, if you did need to use the drag, you could turn of the inboard spoilers so it would not shake the tail, but in practice most pilots would avoid the speed brakes in the 707. The 727 with the "T" tail did not have the shaking problem. The 707 did take a bit longer to slow than the 727, but you are correct this model is a bit too slick. At light weight the 707 clean, would not descend as fast as the 727 which had higher wing loading. Using speed brakes with flaps was a no, no in both planes.

The gear red light was just a reminder that the gear was not extended, sort of like the gear horn in the 727.